A Business Sold Equipment for $40,000 Cash

question 12

Multiple Choice

A business sold equipment for $40,000 cash.They purchased the equipment one day earlier for $40,000 but changed their plans.

• A)Debit Equipment for $40,000 and credit Cash for $40,000.
• B)Debit Equipment for $40,000 and credit Retained Earnings for $40,000.
• C)Debit Cash for $40,000 and credit Equipment for $40,000.
• D)Debit Retained Earnings for $40,000 and credit Equipment for $40,000.

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Definitions:

Biological Factors

Elements within an organism's biology, including genetics, neurochemistry, and physiology, that affect an individual's health and behavior.

Psychological

Pertains to the mind and behavior, focusing on how individuals think, feel, and act.

Sociological

Related to the study of the development, structure, and functioning of human society and social problems.

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The strategies, techniques, and procedures used by researchers to gather and analyze data in studies.